The UK Gambling Commission has issued a reminder to on-course bookmakers operating at the Cheltenham Festival regarding their licensing obligations. The regulator specifically highlighted responsibilities around anti-money laundering protocols and the handling of large cash transactions.
All licensees are required to maintain robust policies and controls to prevent their businesses from being used for criminal activity. The Commission also reminded operators of their duty to report any suspicious activity or transactions encountered during the event. John Pierce, the Commission’s Director of Enforcement, noted that while most on-course betting is legitimate, licensees must remain vigilant against counterfeit currency and criminal proceeds entering the gambling system.